From WikiMania
On August 15, 2007, the Chiefs announced final plans for the renovated Arrowhead Stadium, which will cost $375 million. The cost was increased by $50 million due to an additional payment by the Hunt Family, whom were originally intending to donate just $75 million. The renovated stadium will feature the Chiefs Hall of Honor, currently known as the Chiefs Hall of Fame, a tribute to Lamar Hunt, and "horizon level" seating in which Luxury suite owners will be sitting outdoors. The stadium and new player and coaches facilities are still on schedule to be completed by the beginning of the 2010 NFL season. Though the stadium is referred to as "New Arrowhead Stadium," the building as of this time will not be renamed.
On August 28, 2008 the Chiefs announced their decision to sell the naming rights to Arrowhead Stadium. IMG, a sports and entertainment company, will help them locate a buyer